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20100918
20100918
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CSPAN
Sep 18, 2010 10:00am EDT
that chinese currency is undervalued. it is a problem. it affect it is ohio virginia. it's a source of great frustration for many years i've experienced in manufacturing. and where people disagree is how we should respond. and there's a number of paths. certainly the ryan-murphy bill is one approach. there are other that is are offered. how effective do you think unilateral u.s. action would be such as tear yiffs in enforcing the chinese to appreciate their currency? particularly considering some of the wto conversations? >> i think for any action to be effective it has to be able to withstand challenge. that doesn't mean we have no independent capacity to act. there are tools we have that are fully consistent with the wto. and our agreements with china. and i think that where those tools can be effective, we should be prepared to use them as we are. the critical test is whether they can withstand challenge. and there are a range of things we have the capacity to do that meet that test. as i mentioned in my testimony. >> thank you. and finally, the one thing that i noticed from quiet diploma
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